Verifiable Credentials (VCs) are an open standard for digital credentials that are digitally signed, tamper-proof and allow for easy verification. VCs are used to store and verify personal data while remaining cryptographically signed and providing proof of authenticity and identity without relying on a central authority.
VCs can represent both physical IDs, such as passports or licences, and digital IDs that have no physical equivalents, such as holding a bank account. Compared to physical IDs, VCs are easier to store, transport and verify, which has numerous advantages. VCs also support a wide range of applications, including identity verification, access control and payment processing.
Verifiable credentials (VCs) are a secure and convenient way to identify yourself. Using decentralised identifiers (DIDs) and public-key cryptography, individuals can securely issue, store and verify their credentials while protecting their privacy.
VCs can be used for a variety of purposes, such as proving age, address or even renting a car, checking into a hotel or opening a bank account, without the need to present physical IDs. So users no longer need to carry around a wallet full of cards and can be confident that their data is secure.
Digital badges are changing the way businesses process and approve badges. The process is faster, more secure and more efficient than traditional methods. Digital credentials also provide users with a higher level of control over their data, as they can decide who can access their credentials.
However, VCs also offer numerous other advantages over traditional physical credentials, such as being easier to store, transport and verify. With the proliferation of digital credentials, organisations can benefit from faster, more secure and more efficient credential processing.
The digital credential revolution is here, and it is changing the way businesses operate. With the advent of digital credentials, organisations have an easier and more secure way to issue, verify and approve credentials. Verifiable Credentials (VCs) provide an open standard for digital credentials that can be digitally signed and made tamper-proof.
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